Tips for Entrepreneurs

A collection of essential tips from the Jumpstart podcast.

Planning

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Don’t wing it. You need to put your whole concept and business plan on paper. If you don’t commit it to paper, you will never force important questions.

It will take you twice as long as you say it will. It will cost you twice as much as you say it will. It will achieve half of what you think it will do. If you can apply this, you have something.

Don’t assume people will buy. Solve a problem first.

Establish a culture and a climate.

Just get started. Quit waiting around.

Try to track everything. You don’t know what works unless you’re

tracking the success or failure of it.

Understand the end game.

Have a lot of experiencein the industrythat your startup is in.

Finance

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Marry yourself to a very good financial person.

Always spend your own money, before you pitch to raise money too.

Sales should alwaysbe pushed to sell outsideof their hometown.

Make sure potential investors have the same vision that you do.

Finance

Make more money then you spent. If you’re spending someone else’s money, try to make more money than they are spending.

If you’re bad with numbers, find a numbers person that you trust.

Save $.20 on every dollar, so it’s set aside for taxes. It is also a great savings plan.

PlanningDon’t spend tons of money until you have nailed your product market fit.

People

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Never stop networking.

Build out your peer and mentornetwork.

Be the dumbest guy in the room. Surround yourselfwith super smart people.

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Hire the right people. Partner with the right people. You don’t always have to hire right out of the gate.Make sure they compliment what it is that you do.

Hire people who are smarter than you.

Surround yourself with passionate people.

Find mentors. Build your network with people who have been where you want to go.

Personal

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Be creative, stay positiveand keep moving forward. Have a strong willingness to be uncomfortable.

Stay healthy. Make it as important as your big meetings.

Are you focusing on entrepreneurshipor independence? Know the answer.

Be the founder. Embrace it and enjoy it. It’s a title people can’t takeaway from you.

Bet on yourself.

Listen to the wisdom

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Visit: www.jumpstartpodcast.comto hear our recent interview with Seth Godinand to subscribe, so you never miss a show.

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Creative Commons photos from Flickr by:

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Tips & Photos

These tips were collected from episodes 1 - 11 of Jumpstart. Tips provided by guests: Dan Hammond, Nick Holland, Rajeev Gupta, Neely Burks, Drew Fassett, Jackson Miller, Robert Hendrick, Chris Blanz, Marcus Whitney, Mark Montgomery, and Rex Hammock.

To hear their full interviews please visit www.jumpstartpodcast.com. Thanks.

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Please share our tips with your friends and colleagues.